The number of new Netflix subscribers is smaller than expected

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In the past quarter, Netflix attracted far fewer new customers than expected. On Wall Street, the Netflix share price fell 11.45 percent after the publication of the figure report.

According to Netflix, 2.7 million new paying customers were added worldwide in the second quarter, while the company itself expected 5 million.

In the first quarter of this year, that number increased by almost ten million. In total, Netflix now has nearly 152 million subscribers.

Netflix achieved a turnover of more than 4.92 billion dollars (4.4 billion euros) in the past quarter. $ 4.93 billion was expected. In the second quarter of 2018, sales were $ 3.9 billion. The net profit amounted to 271 million dollars (241 million euros). That was $ 384 million in the same period last year.

Competition for Netflix getting bigger

The competition is getting bigger for Netflix. In November, Disney releases its own Disney + streaming service in the United States. HBO and Apple are also working on their own video service. In addition, existing alternatives such as the Dutch Videoland are also gaining ground.

Netflix expects to catch up in the third quarter. The company says it is counting on a growth of seven million subscribers.

About the author

Lesley Woutersen

Lesley Woutersen, one of the co-founders of the EconomicInform gives away all of his free time to the project. He is interested in stock exchange and digital assets. Lesley can be reached by [email protected]

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